Oppenheimer Downgrades Riverbed Technology (RVBD) to Perform Following Q1, Guidance
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Price: $16.24 -0.85%
Rating Summary:
14 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
14 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade RVBD Now!
Oppenheimer downgraded Riverbed Technology (NASDAQ: RVBD) from Outperform to Perform.
The firm comments, "While 1Q12 results were within guidance and next-quarter guidance was not far off consensus, we feel Riverbed is maneuvering through much more than just a product cycle. We see a transition to a solutions company, and poor sales execution and ongoing alignment as challenges that could take time to resolve. And as Riverbed goes through these growing pains, results could be volatile. Add to that slowing growth in core markets and still a high bar for 2H12, and we see potential for further downward revisions and no support for a rich valuation. We're therefore stepping to the sidelines."
For an analyst ratings summary and ratings history on Riverbed Technology click here. For more ratings news on Riverbed Technology click here.
Shares of Riverbed Technology closed at $27.86 yesterday, with a 52 week range of $18.33-$41.83.
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The firm comments, "While 1Q12 results were within guidance and next-quarter guidance was not far off consensus, we feel Riverbed is maneuvering through much more than just a product cycle. We see a transition to a solutions company, and poor sales execution and ongoing alignment as challenges that could take time to resolve. And as Riverbed goes through these growing pains, results could be volatile. Add to that slowing growth in core markets and still a high bar for 2H12, and we see potential for further downward revisions and no support for a rich valuation. We're therefore stepping to the sidelines."
For an analyst ratings summary and ratings history on Riverbed Technology click here. For more ratings news on Riverbed Technology click here.
Shares of Riverbed Technology closed at $27.86 yesterday, with a 52 week range of $18.33-$41.83.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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